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Meteorological drought during the southwest monsoon season and for the northeast monsoon season over five meteorological subdivisions of India for the period 1901–2015 has been examined using district and all India standardized precipitation index (SPI). Whenever all India southwest monsoon rainfall was less than −10% or below normal, for those years all India SPI was found as −1 or less. Composite analysis of SPI for the below normal years, viz., less than −15% and −20% of normal rainfall years indicate that during those years more than 30% of country’s area was under drought condition, whenever all India southwest monsoon rainfall was –15% or less than normal. Trend analysis of monthly SPI for the monsoon months identified the districts experiencing significant increase in drought occurrences. Significant positive correlation has been found with the meteorological drought over most of the districts of central, northern and peninsular India, while negative correlation was seen over the districts of eastern India with NINO 3.4 SST. For the first time, meteorological drought analysis over districts and its association with equatorial pacific SST and probability analysis has been done for the northeast monsoon over the affected regions of south peninsular India. Temporal correlation of all India southwest monsoon SPI and south peninsular India northeast monsoon SPI has been done with the global SST to identify the teleconnection of drought in India with global parameters.